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Revolving Loan Funds Update
May 8, 2018
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Revolving Loan Fund Finance Update


Invitation to Complete Survey on Portfolio Management Software
CDFA is currently collecting basic information about the portfolio management software used by Development Finance Agencies across the country. This will help CDFA to provide best practices in software that DFAs can use for underwriting, servicing and ongoing management of bond, loan and other incentive portfolios. Fill out the survey today!

Sheboygan, WI Makes Lending a Key Part of Economic Development Strategy
The city's business development loans were provided to create The Berkshire, the Black Pig's banquet facility, as well as provide start-up funds for the Little Caesars and Red Wing Shoe franchises on the city's south side. A revolving loan fund to assist business development also assisted 3 Sheeps Brewery with the conversion of the former Coca-Cola bottling plant to their Brewery and Taproom.

York Co, NE Receives 323K to Establish Housing RLF
LB 518 channeled approximately $7 million from the Affordable Housing Trust Fund into a new fund, the Rural Workforce Housing Investment Fund. The RWHF, in turn, will fund regional rural workforce housing investment funds. It is intended to bolster rural communities' workforce recruitment efforts by helping them expand and improve their affordable housing stock.

Dekalb County RLF Key to Cleanup of Old Gas Station
The original financing for the cleanup was provided via an EPA brownfields cleanup grant, but the money didn't go far enough. Dekalb County was able to provide the gap financing to complete the project through its RLF. The site is now lush and green, and even includes a short trail to a nearby MARTA station.

Pittsburg, KS Votes to Use RLF on Dilapidated Building
The Pittsburg City Commission voted to utilize the city's Revolving Loan Fund to either stabilize or demolish two dilapidated structures. One is located at 113 West 5th Street and the other is at 716 North Broadway.

RLF Used to Support School and Infrastructure in Salem, IL
In a surprise move, the State of Illinois has asked the City of Salem to identify two projects to spend down the $919 thousand remaining in its revolving loan fund that the city had to turn over to the state at the end of last year. The city also has the opportunity to purchase their $335,000 loan portfolio.

Florida Future Fund: A New SRF for FL Resiliency
The majority of Floridians demand a forward-thinking response to the state's pressing infrastructure and environmental challenges. One option is creating a Florida Future Fund a state revolving loan fund that would provide state funding for innovative energy, transportation, flood protections, and other neighborhood improvements designed to withstand sea-level rise and more extreme weather.

VT Brewery to Receive $40K from RLF, $95K from VEDA
The Revolving Loan Fund is one of two main loans that Red Clover Ale Company will use to start up the operation. The other is a Vermont Economic Development Authority (VEDA) loan for $95,000. Both loans will be repaid in about seven years. Additionally, the three founders will be investing their own money in the start-up. It's estimated they will need about $150,000 to begin.

Paxton, IL to Use RLF to Beautify Downtown
Mayor Ingold said the revolving loan fund program, started some 20 years ago by IDCEO, is set to be terminated at the end of 2020, and the city needs to find a way to spend down its remaining revolving loan funds before it expires. The streetscape improvements are one possible option to use the funds.

Vilas County, WI Considers Creating RLF Without Investing County Dollars
The fund would work similarly to Vilas County's which works via issuing funds with an interest rate to new and existing businesses. The payback rate is then invested back into the revolving loan fund to pay it off and earn more dollars for future local business loan endeavors.

Upcoming Events
Intro EB-5 Finance WebCourse

CDFA EDA Revolving Loan Fund Webinar Series: Designing A Revolving Loan Fund Program to Meet Your Community's Needs
May 22, 2018 - 2:00 PM Eastern
Join us as our expert speakers discuss how to design or modify an EDA Revolving Loan Fund program to address local demand, including how to set your rate and match as well as how to target underserved businesses such as minority and women owned businesses or micro enterprises and entrepreneurs.


EPA Awards $300K to Revitalize Blighted Properties in Hawaii
Maui Now | Apr. 26 | Access to Capital | Brownfield Financing | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA)

Mount Airy, NC Receives $2.7M From CDBG and SRF
The Mount Airy News | Apr. 11 | Water Finance | Infrastructure Finance | Revolving Loan Funds (RLFs)

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